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If An Employee Leaves In The Middle Of Year,then First Slab Tax Exemption Of Rs 1.50 Lac Is Given In Full ?
Question by a_zx2003 | Posted in India
If an hand leaves in middle of year, then the income tax exemtion of first slab , Rs 1.50 lac, is to be given in full or proportionately ?Similarly what about the reserve limit u/s 80C? Complete saving limit of Rs 1 lac can be given or again it should be proportionately.
Answer: Taxable revenues is your earning during the year, It does not matter you earned it during the whole year or part of it. If you are employed for six months only and not earning any possession for remaining six months. First six months income will be your income for the whole year.
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I Want To Know The Professional Tax Slab Rates Applicable For Andhra Pradesh, India.?
Question by paddu | Posted in India
I indigence to know the professional tax slab rates applicable for the state Andhra Pradesh and also the Boy from which it is applicable. So please send me the Slab rates as soon as possible.
What are the advantages of filing tax? Can anyone even when they are not under the taxable gains may file their income for salaried class?
If so, are there any advantages of filing it?
Answer: Any one can enter tax returns with below taxable income or with nil income. Filing tax returns may help for applying any credit.
i require to know the income tax slab i.e. limit where the tax will attract for man and women
Answer: I TAX RATES FOR INDIVIDUALS OTHER THAN II & III
Upto 1,10,000 - Nil
1,10,000 to 1,50,000 - 10% of the amount extraordinary 1,10,000
1,50,000 to 2,50,000 - Rs.4,000 + 20% of the amount exceeding 1,50,000
2,50,000 & above - Rs.24,000 + 30% of the amount exceeding 2,50,000
